Egypt Signs EUR 1.1B Deal to Receive 1,350 Railway Cars From Hungary

Hungarian company Ganz-MÁVAG is sending 1,350 railway cars to Egypt to boost the country’s public transportation sector. The EUR 1.1 billion deal is Hungary’s largest-ever international order of railway exports to date.

The deal was signed when Egypt’s Minister of Transport, Minister of Trade and Industry, and Deputy Prime Minister for Industrial Affairs Kamel Al-Wazir recently met with Hungarian Minister of Foreign Affairs, Szijjártó Péter.

1,000 cars have already been delivered to Egypt, with the remaining 350 being on hold. Over 900 Hungarians have worked on the project, and more than 450 companies have been part of the order’s supply chain.

The deal comes in light of the fifth round of the Egyptian-Hungarian Joint Economic Committee, scheduled to take place in Cairo in April 2025. During the announcement, Minister Al-Wazir discussed the importance of international collaborators in hopes of growing Egypt’s industrial economy, opening more factories dedicated to priority industries such as renewable energy or automobile manufacturing.